I would rather miss that upside than buy at the top.
This is sage advice and I agree.
I do not advocate for buying assets inflated by quantitative easing but isn't safer to buy the bounce-back after the pullback?
A dead-cat-bounce being the risk in buying that bounce-back but you were going to buy the pullback anyway.
I love to trade dead cat bounces, but I always have a stop in place in case the knife keeps on falling. And I always have a price target so that I never overstay my welcome and get greedy.
I never let myself get upset about missing any upside as long as I kept myself disciplined and acted according to a good plan.
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I identify sound investments then make ridiculously low bids and wait for the prices to fall so that my bids can be effected. Then I hold until I need to liquidate.
This way I save time and broker fees, and probably make more than I would day trading.
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